Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) Sees Significant Drop in Short Interest

Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 5,800 shares, a drop of 84.2% from the September 30th total of 36,700 shares. Based on an average daily volume of 108,900 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Direxion Daily MSFT Bear 1X Shares

An institutional investor recently raised its position in Direxion Daily MSFT Bear 1X Shares stock. Wakefield Asset Management LLLP grew its stake in shares of Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,426 shares of the company’s stock after buying an additional 1,588 shares during the quarter. Wakefield Asset Management LLLP owned about 6.68% of Direxion Daily MSFT Bear 1X Shares worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

Direxion Daily MSFT Bear 1X Shares Stock Down 0.8 %

Shares of MSFD stock traded down $0.11 during midday trading on Friday, reaching $13.65. 120,055 shares of the company were exchanged, compared to its average volume of 92,332. Direxion Daily MSFT Bear 1X Shares has a 12 month low of $12.43 and a 12 month high of $17.97. The company’s 50 day moving average price is $13.89 and its two-hundred day moving average price is $13.81.

Direxion Daily MSFT Bear 1X Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th were given a dividend of $0.1097 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.22%.

Direxion Daily MSFT Bear 1X Shares Company Profile

The Direxion Daily MSFT Bear 1X Shares ETF (MSFD) is an exchange-traded fund that is based on the Microsoft Corporation index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Microsoft stock. MSFD was launched on Sep 7, 2022 and is managed by Direxion.